What is Pi Network? Mining crypto from your smartphone

Pi Network is a smartphone app that allows anyone to mine cryptocurrencies directly from their mobile device. The platform aims to lower the barrier to crypto participation for people by simplifying the mining process. Now, crypto users no longer need to invest in mining hardware or stomach the energy costs typically involved in mining crypto.

In this article, we'll walk you through the Pi Network, explaining how it works, the role of the PI token in the technology, and what's to come from the project.

TL;DR

  • Pi Network simplifies crypto mining, allowing users to mine crypto through their smartphone in an energy-efficient way.

  • PI is the project's native token, and it's mined by users of the Pi Network. PI is used to transfer value on the network and enable payments for products and services.

  • To gain access to Pi Network, an existing trusted member must first invite users.

What is Pi Network?

Pi Network is a crypto mining app that you can download directly to your smartphone. The platform is different from the decentralized applications typically used in crypto, which are accessed via a Web3 browser and usually need a wallet to be connected. Not just anyone can sign up, though. New users must be invited by an existing trusted member to access Pi Network.

Put simply, Pi Network exists to help more people adopt cryptocurrencies by allowing them to easily mine the PI token. According to the project's white paper, the Pi Network is a response to the concentration of money and power seen in the Bitcoin ecosystem today — despite Bitcoin being designed as a more equitable alternative to the traditional financial system. The Pi Network uses the Stellar Consensus Protocol (SCP) and the Federated Byzantine Agreement (FBA) algorithm to validate transactions.

Alongside mining, the Pi Network allows trust to be scaled across the web. To do so, the platform's consensus algorithm relies on a global trust graph made up of what the project calls security circles — small groups of network users who trust each other not to act maliciously. The trust graph enables transactions between strangers in a secure way. What's more, the network provides an attention marketplace centered around a social media channel that democratizes content creation and knowledge sharing.

PI utility and tokenomics

Users of the Pi Network mine PI through the platform. As the native currency, PI is also used to transfer value through the platform, and supports decentralized peer-to-peer transactions.

PI's total supply is capped at 100 billion to incentivize "continued growth and new contributions," according to the project. Eighty percent of the total supply is meant to be distributed to the Pi community, with 20% going to the Pi core team. The core team's allocation will be unlocked on a gradual basis.

What's next for the Pi Network?

Pi Network has plans to create a virtual storefront where users — called "Pioneers" — can offer their goods and services to others. The platform app will act as a point of sales, allowing simple access to what's on sale. Meanwhile, the project plans to offer a decentralized app store where users can bootstrap their own decentralized applications and grow using the Pi Network infrastructure. Pi Network rolled out its Tesnet 2 upgrade during October 2024 to prepare nodes for the move from an Enclosed Network to an Open Network period, as it prepares for a mainnet launch.

The final word

Pi Network is another example of crypto's efforts to lower the barriers to adoption for more people and simplify access to crypto technology and tokens. Not only an intuitive platform for crypto beginners, Pi Network provides fundamental infrastructure for developers to build upon, encouraging fresh innovation for the space.

Interested in learning more about crypto mining? Take a look at our guide to cloud mining, and our article on the top ASIC miners available today.

FAQs

Pi Network is an app-based crypto mining platform that allows users — called Pioneers — to mine directly from their smartphone. The process is less energy-intensive than conventional crypto mining methods and doesn't require the sometimes expensive and technical mining hardware.

You'll need to be invited by a trusted existing member of the Pi Network if you are to become a user yourself. Then, you can access the platform by downloading the Pi Network app to your Android or iOS device.

Whether Pi Network is a better option or not depends on individual wants and needs. The platform is designed to lower the barrier to crypto adoption by opening mining up to more people. As such, Pi Network may be a better option if you want to mine crypto without the cost and technical resources demanded by conventional mining infrastructure.

The trading of any cryptocurrency carries some risk given the high volatility of the market, and the PI token is no different. Although the token has a utility purpose on the platform, it's important to trade with caution and only use funds you can afford to lose.

免責聲明
本內容僅供參考,可能包含您所在地區不支持的產品信息。本內容無意提供 (i) 投資建議或投資推薦;(ii) 購買、出售或持有數字貨幣/數字資產的要約或邀約;或 (iii) 財務、會計、法律或稅務建議。持有數字貨幣/數字資產 (包括穩定幣和 NFT) 存在較高風險,其價值可能大幅波動。您應根據您的財務狀況和風險承受能力,仔細考慮交易或持有數字貨幣/數字資產是否適合您。有關您的具體情況,請諮詢您的法律/稅務/投資專業人士。本帖中的所有信息 (包括市場數據與統計資料) 僅作一般性參考。某些內容可能由人工智能 (AI) 工具生成或輔助。雖然我們在編寫相關數據和圖表時已採取一切合理措施確保準確,但我們不對其中可能存在的任何事實錯誤或遺漏承擔任何責任。OKX Wallet 及相關服務並非由 OKX 交易所直接提供,受 OKX Web3 生態系統服務條款 約束。

相關推薦

查看更多
Circle cross-chain transfers thumbnail
Stablecoins
Protocols

Understanding Circle's cross-chain transfer protocol: a comprehensive guide

Have you ever felt restricted by the boundaries of a single blockchain network when managing your assets? With cross-chain token transfers from financial services company Circle, restrictions are a thing of the past. They help break down those sometimes frustrating obstacles so you can move crypto like effortlessly from networks like and Cosmos.
2025年7月15日
2
OKX Launches Bitcoin Halving-Themed Competitions
Bitcoin

What is the Bitcoin 2024 halving and how could it impact crypto?

April 19, 2024 saw the arrival of the fourth Bitcoin halving event — a significant development affecting the asset's circulation. But what is the Bitcoin halving exactly? According to the Bitcoin white paper , it's a built-in feature of Bitcoin's programming that occurs approximately every four years. This unique event cuts the number of Bitcoins awarded to miners for processing transactions in half. Why does this matter? Well, it's all about supply and control.
2025年7月15日
中級
25
Web3 rewrites social media
Research

Web1 to Web3: The rise of decentralized social media

The evolution of social media has been a fascinating journey. It started in the late 1990s when basic message board platforms and chat rooms dominated. This was a time when users were more concerned w
2025年7月15日
OKX Bot Trading
Trading guide
Blockchain
Trading basics

A beginner’s guide to IPOs: how cryptocurrency firms can go public

An initial public offering (IPO) is the process of a private company offering its shares to the public for the first time, allowing anyone to buy a stake in the company. This usually occurs when a company is looking to raise capital to fund its growth and expansion plans. IPOs have become increasingly popular among cryptocurrency firms in recent years, as they seek to gain mainstream recognition and credibility. This beginner’s guide will explore the IPO process and provide insights into how cryptocurrency firms can go public.
2025年7月15日
新手
7
Forward Contracts vs. Futures Contracts What Are the Differences
NFT
Artificial intelligence

How generative AI is transforming the NFT space

Just as NFTs swept the scene in 2021 and 2022, AI is the talk of the town today. We've witnessed the evolution ChatGPT has contributed to copy and content, but what about art and digital collectibles?
2025年7月15日
3
Forward Contracts vs. Futures Contracts What Are the Differences
Research

Consortium blockchains: What you need to know

Blockchain is a type of distributed ledger technology (DLT) that facilitates the sharing and storage of data and information in groups called blocks. The emerging technology has gained substantial pop
2025年7月15日
5
查看更多